Annual General Meeting approves all proposed resolutions by a large majority

SMT Scharf AG: Annual General Meeting approves all proposed resolutions by a large majority

• Managing Board and Supervisory Board approved by a large majority for the 2023 financial year
• New Supervisory Board elected, consisting of 5 members in future
• Attendance of the represented share capital recorded at 41.73 %

Hamm, May 22, 2024 – SMT Scharf AG (WKN A3DRAE; ISIN DE000A3DRAE2), a leading global provider of customized transport solutions and logistics systems for underground mining, successfully held its 2024 Annual General Meeting in Hamm today, on Wednesday. The share capital represented amounted to 41.73 %. All proposed resolutions were approved by the Annual General Meeting with a large majority. The shareholders approved the members of the Management Board and Supervisory Board for the past financial year elapsed by a large majority.

Moreover, the Annual General Meeting also elected a new Supervisory Board, which continues to include Prof. Dr. Louis Velthuis, Dr.-Ing. Dirk Vorsteher and graduate economist Dorothea Gattineau. Following the registration of the resolved amendment to the Articles of Association, the Supervisory Board will consist of a total of five members. The candidates for these vacancies have not yet been determined, but the two open positions are to be filled in a timely manner. Dr. Li Zhang, Managing Director of Yankuang Donghua Heavy Industry Co., Ltd. and Dr. Qiang Yu, Minister of Financial Management at Yankuang Energy Group Company Limited, were also elected as substitute members of the Supervisory Board.

At the meeting, the Managing Board reported on SMT Scharf AG's business performance in the 2023 business year, followed by an overview of developments in the first quarter of 2024, as well as the expectations for the year as a whole. In the year elapsed, SMT Scharf recorded strong demand for spare parts and service in its core markets, as mining customers focused on fleet maintenance and servicing. New investment business, which had declined in the past reporting year, was up again in the first quarter of 2024 compared to the same prior year period. The major orders received in the tunnel logistics segment, where activities to expand business outside of coal mining are bearing fruit, also give rise to a positive outlook on the current year.

Rödl & Partner GmbH Wirtschaftsprüfungsgesellschaft Steuerberatungsgesellschaft, Cologne branch, was once again appointed as auditor for the 2024 financial year.

The detailed voting results for the respective agenda items will be made available on the website at www.smtscharf.com in the Investor Relations section.

 

Company profile

The SMT Scharf Group develops, manufactures and services transportation equipment for underground mining as well as for tunnel construction. The main products include captivated railway systems that are deployed worldwide, primarily in hard coal mines, as well as in mines for gold, platinum and other metals. They are needed to transport material and personnel with payloads of up to 48 tonnes and on routes with gradients of up to 30 degrees. In addition, SMT Scharf supplies the mining sector with chairlifts. Since 2018, SMT Scharf’s diverse portfolio has also included rubber-tyred diesel and electric vehicles for mining and tunnelling, including loaders, scissor lifts and underground trucks. As part of the further diversification of the business, the product range has been successfully expanded since 2019 to include electronic components and control systems for mining and other industries. Overall, the SMT Scharf Group is active with subsidiaries in seven countries, as well as commercial agencies worldwide. Further information about the SMT Scharf Group can be found online at www.smtscharf.com.

Contact

Investor Relations
cometis AG
Thorben Burbach
Phone: +49(0)611 - 205855-23
Fax: +49(0)611 - 205855-66
Email: burbach@cometis.de